White House is concerned about the use of cryptocurrencies in drug trafficking …

White House is concerned about the use of cryptocurrencies in drug trafficking

The US authorities on Wednesday published several advisory conclusions, one of which directly describes the role of cryptocurrencies in buying and selling prohibited to civil turnover substances.

Publication on White House website addresses financial institutions and digital payment platforms that need to be aware that “convertible virtual currencies”, in particular bitcoin, Bitcoin Cash, Ethereum and Monero, may used and used for trade such substances in open and deep internet.

According to the White House statement, convertible virtual currencies can easily be withdrawn into stable fiat currencies such as dollar USA, and the prohibited substances primarily mean the opioid fentanyl, which the falls to the USA from Mexico and China.

“Analysis of critical financial information has shown that domestic drug manufacturers, dealers and drug users use payment platforms in networks or convertible virtual currencies for the purchase of precursor chemicals or fully synthesized drugs, primarily of China “, – said in the publication.

White House Concerns About Cryptocurrency Drug Trafficking Authorities ...

White House message is an part more a wider program of the US authorities to “interrupt the epidemic of fentanyl”, which studied various payment methods, including cryptocurrencies.

Recently it became known that the Office for the Control of Foreign assets U.S. Treasury Department Blacklists Cryptocurrency Addresses of Three Chinese Drug Dealers.